Sec Form 13G Filing - Institutional Venture Partners XIV L.P. filing for Oportun Financial Corp (OPRT) - 2024-02-13

Insider filing report for Changes in Beneficial Ownership

  • Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
What is insider trading>>

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G
(Rule 13d-102)

 

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1 (b), (c) AND (d)
AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2

(Amendment No. 2)

 

Oportun Financial Corporation

(Name of Issuer)

 

Common Stock, $0.0001 par value per share

(Title of Class of Securities)

 

68376D 10 4

(CUSIP Number)

 

December 31, 2023

(Date of Event Which Requires Filing of This Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

¨Rule 13d-1(b)

 

¨Rule 13d-1(c)

 

xRule 13d-1(d)

 

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

 

 

 

CUSIP NO.  68376D 10 4 13 G  

 

     
     
1

NAMES OF REPORTING PERSONS.

 

Institutional Venture Partners XIV, L.P.

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a) ¨     (b) x (1)

3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF
SHARES BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH
5 SOLE VOTING POWER
0 shares
  6 SHARED VOTING POWER
2,921,267 shares (2)
  7

SOLE DISPOSITIVE POWER
0 shares

 

  8 SHARED DISPOSITIVE POWER
2,921,267 shares (2)
9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,921,267 shares (2)

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

¨

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

8.5% (3)

12

TYPE OF REPORTING PERSON*

PN

               

 

(1)This Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

 

(2)The shares are held by IVP XIV. IVM XIV serves as the sole general partner of IVP XIV and has sole voting and investment control over the shares owned by IVP XIV and may be deemed to own beneficially the shares held by IVP XIV. IVM XIV owns no securities of the Issuer directly. Chaffee, Fogelsong, Harrick, Miller, Maltz and Phelps are Managing Directors of IVM XIV and share voting and dispositive power over the shares held by IVP XIV, and may be deemed to own beneficially the shares held by IVP XIV. The Managing Directors own no securities of the Issuer directly.

 

(3)The percentage is based on 34,230,172 shares of Common Stock reported to be outstanding as of November 2, 2023 in the Issuer’s Form 10-Q for the quarterly period ended September 30, 2023 as filed with the Securities and Exchange Commission on November 9, 2023.

 

2 

 

 

CUSIP NO.  68376D 10 4 13 G  

 

     
     
1

NAMES OF REPORTING PERSONS

 

Institutional Venture Management XIV, LLC

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a) ¨     (b) x (1)

3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF
SHARES BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH
5 SOLE VOTING POWER
0 shares
  6 SHARED VOTING POWER
2,921,267 shares (2)
  7

SOLE DISPOSITIVE POWER
0 shares

 

  8 SHARED DISPOSITIVE POWER
2,921,267 shares (2)
9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,921,267 shares (2)

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

¨ 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

8.5% (3)

12

TYPE OF REPORTING PERSON*

OO

               

 

(1)This Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

 

(2)The shares are held by IVP XIV. IVM XIV serves as the sole general partner of IVP XIV and has sole voting and investment control over the shares owned by IVP XIV and may be deemed to own beneficially the shares held by IVP XIV. IVM XIV owns no securities of the Issuer directly. Chaffee, Fogelsong, Harrick, Miller, Maltz and Phelps are Managing Directors of IVM XIV and share voting and dispositive power over the shares held by IVP XIV, and may be deemed to own beneficially the shares held by IVP XIV. The Managing Directors own no securities of the Issuer directly.

 

(3)The percentage is based on 34,230,172 shares of Common Stock reported to be outstanding as of November 2, 2023 in the Issuer’s Form 10-Q for the quarterly period ended September 30, 2023 as filed with the Securities and Exchange Commission on November 9, 2023.

 

3 

 

 

CUSIP NO.  68376D 10 4 13 G  

 

     
     
1

NAMES OF REPORTING PERSONS

 

Todd C. Chaffee

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a) ¨     (b) x (1)

3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
NUMBER OF
SHARES BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH
5 SOLE VOTING POWER
0 shares
  6 SHARED VOTING POWER
2,921,267 shares (2)
  7

SOLE DISPOSITIVE POWER
0 shares

 

  8 SHARED DISPOSITIVE POWER
2,921,267 shares (2)
9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,921,267 shares (2)

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

¨ 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

8.5% (3)

12

TYPE OF REPORTING PERSON*

IN

               

 

(1)This Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

 

(2)The shares are held by IVP XIV. IVM XIV serves as the sole general partner of IVP XIV and has sole voting and investment control over the shares owned by IVP XIV and may be deemed to own beneficially the shares held by IVP XIV. IVM XIV owns no securities of the Issuer directly. Chaffee, Fogelsong, Harrick, Miller, Maltz and Phelps are Managing Directors of IVM XIV and share voting and dispositive power over the shares held by IVP XIV, and may be deemed to own beneficially the shares held by IVP XIV. The Managing Directors own no securities of the Issuer directly.

 

(3)The percentage is based on 34,230,172 shares of Common Stock reported to be outstanding as of November 2, 2023 in the Issuer’s Form 10-Q for the quarterly period ended September 30, 2023 as filed with the Securities and Exchange Commission on November 9, 2023.

 

4 

 

 

CUSIP NO.  68376D 10 4 13 G  

 

     
     
1

NAMES OF REPORTING PERSONS

 

Norman A. Fogelsong

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a) ¨     (b) x (1)

3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
NUMBER OF
SHARES BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH
5 SOLE VOTING POWER
0 shares
  6 SHARED VOTING POWER
2,921,267 shares (2)
  7

SOLE DISPOSITIVE POWER
0 shares

 

  8 SHARED DISPOSITIVE POWER
2,921,267 shares (2)
9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,921,267 shares (2)

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

¨ 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

8.5% (3)

12

TYPE OF REPORTING PERSON*

IN

               

 

(1)This Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

 

(2)The shares are held by IVP XIV. IVM XIV serves as the sole general partner of IVP XIV and has sole voting and investment control over the shares owned by IVP XIV and may be deemed to own beneficially the shares held by IVP XIV. IVM XIV owns no securities of the Issuer directly. Chaffee, Fogelsong, Harrick, Miller, Maltz and Phelps are Managing Directors of IVM XIV and share voting and dispositive power over the shares held by IVP XIV, and may be deemed to own beneficially the shares held by IVP XIV. The Managing Directors own no securities of the Issuer directly.

 

(3)The percentage is based on 34,230,172 shares of Common Stock reported to be outstanding as of November 2, 2023 in the Issuer’s Form 10-Q for the quarterly period ended September 30, 2023 as filed with the Securities and Exchange Commission on November 9, 2023.

 

5 

 

 

CUSIP NO.  68376D 10 4 13 G  

 

     
     
1

NAMES OF REPORTING PERSONS

 

Stephen J. Harrick

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a) ¨     (b) x (1)

3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
NUMBER OF
SHARES BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH
5 SOLE VOTING POWER
0 shares
  6 SHARED VOTING POWER
2,921,267 shares (2)
  7

SOLE DISPOSITIVE POWER
0 shares

 

  8 SHARED DISPOSITIVE POWER
2,921,267 shares (2)
9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,921,267 shares (2)

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 ¨

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

8.5% (3)

12

TYPE OF REPORTING PERSON*

IN

               

 

(1)This Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

 

(2)The shares are held by IVP XIV. IVM XIV serves as the sole general partner of IVP XIV and has sole voting and investment control over the shares owned by IVP XIV and may be deemed to own beneficially the shares held by IVP XIV. IVM XIV owns no securities of the Issuer directly. Chaffee, Fogelsong, Harrick, Miller, Maltz and Phelps are Managing Directors of IVM XIV and share voting and dispositive power over the shares held by IVP XIV, and may be deemed to own beneficially the shares held by IVP XIV. The Managing Directors own no securities of the Issuer directly.

 

(3)The percentage is based on 34,230,172 shares of Common Stock reported to be outstanding as of November 2, 2023 in the Issuer’s Form 10-Q for the quarterly period ended September 30, 2023 as filed with the Securities and Exchange Commission on November 9, 2023.

 

6 

 

 

CUSIP NO.  68376D 10 4 13 G  

 

     
     
1

NAMES OF REPORTING PERSONS

 

J. Sanford Miller

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a) ¨     (b) x (1)

3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
NUMBER OF
SHARES BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH
5 SOLE VOTING POWER
0 shares
  6 SHARED VOTING POWER
2,921,267 shares (2)
  7

SOLE DISPOSITIVE POWER
0 shares

 

  8 SHARED DISPOSITIVE POWER
2,921,267 shares (2)
9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,921,267 shares (2)

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

¨

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

8.5% (3)

12

TYPE OF REPORTING PERSON*

IN

               

 

(1)This Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

 

(2)The shares are held by IVP XIV. IVM XIV serves as the sole general partner of IVP XIV and has sole voting and investment control over the shares owned by IVP XIV and may be deemed to own beneficially the shares held by IVP XIV. IVM XIV owns no securities of the Issuer directly. Chaffee, Fogelsong, Harrick, Miller, Maltz and Phelps are Managing Directors of IVM XIV and share voting and dispositive power over the shares held by IVP XIV, and may be deemed to own beneficially the shares held by IVP XIV. The Managing Directors own no securities of the Issuer directly.

 

(3)The percentage is based on 34,230,172 shares of Common Stock reported to be outstanding as of November 2, 2023 in the Issuer’s Form 10-Q for the quarterly period ended September 30, 2023 as filed with the Securities and Exchange Commission on November 9, 2023.

 

7 

 

 

CUSIP NO.  68376D 10 4 13 G  

 

     
     
1

NAMES OF REPORTING PERSONS

 

Jules A. Maltz

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a) ¨     (b) x (1)

3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
NUMBER OF
SHARES BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH
5 SOLE VOTING POWER
0 shares
  6 SHARED VOTING POWER
2,921,267 shares (2)
  7

SOLE DISPOSITIVE POWER
0 shares

 

  8 SHARED DISPOSITIVE POWER
2,921,267 shares (2)
9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,921,267 shares (2)

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

¨ 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

8.5% (3)

12

TYPE OF REPORTING PERSON*

IN

               

 

(1)This Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

 

(2)The shares are held by IVP XIV. IVM XIV serves as the sole general partner of IVP XIV and has sole voting and investment control over the shares owned by IVP XIV and may be deemed to own beneficially the shares held by IVP XIV. IVM XIV owns no securities of the Issuer directly. Chaffee, Fogelsong, Harrick, Miller, Maltz and Phelps are Managing Directors of IVM XIV and share voting and dispositive power over the shares held by IVP XIV, and may be deemed to own beneficially the shares held by IVP XIV. The Managing Directors own no securities of the Issuer directly.

 

(3)The percentage is based on 34,230,172 shares of Common Stock reported to be outstanding as of November 2, 2023 in the Issuer’s Form 10-Q for the quarterly period ended September 30, 2023 as filed with the Securities and Exchange Commission on November 9, 2023.

 

8 

 

 

CUSIP NO.  68376D 10 4 13 G  

 

     
     
1

NAMES OF REPORTING PERSONS

 

Dennis B. Phelps

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a) ¨     (b) x (1)

3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
NUMBER OF
SHARES BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH
5 SOLE VOTING POWER
0 shares
  6 SHARED VOTING POWER
2,921,267 shares (2)
  7

SOLE DISPOSITIVE POWER
0 shares

 

  8 SHARED DISPOSITIVE POWER
2,921,267 shares (2)
9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,921,267 shares (2)

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

¨ 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

8.5% (3)

12

TYPE OF REPORTING PERSON*

IN

               

 

(1)This Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

 

(2)The shares are held by IVP XIV. IVM XIV serves as the sole general partner of IVP XIV and has sole voting and investment control over the shares owned by IVP XIV and may be deemed to own beneficially the shares held by IVP XIV. IVM XIV owns no securities of the Issuer directly. Chaffee, Fogelsong, Harrick, Miller, Maltz and Phelps are Managing Directors of IVM XIV and share voting and dispositive power over the shares held by IVP XIV, and may be deemed to own beneficially the shares held by IVP XIV. The Managing Directors own no securities of the Issuer directly.

 

(3)The percentage is based on 34,230,172 shares of Common Stock reported to be outstanding as of November 2, 2023 in the Issuer’s Form 10-Q for the quarterly period ended September 30, 2023 as filed with the Securities and Exchange Commission on November 9, 2023.

 

 

 

 

Introductory Note: This statement on Schedule 13G is filed by the Reporting Persons with the Commission in respect of shares of Common Stock, par value $0.0001 per share (“Common Stock”), of Oportun Financial Corporation, a Delaware corporation (the “Issuer”).

 

Item 1

 

(a) Name of Issuer: Oportun Financial Corporation
     
(b) Address of Issuer’s Principal  
  Executive Offices: 2 Circle Star Way
    San Carlos, California 94070

 

Item 2

 

(a)Name of Reporting Persons Filing:

 

1.Institutional Venture Partners XIV, L.P. (“IVP XIV”)
2.Institutional Venture Management XIV, LLC (“IVM XIV”)
3.Todd C. Chaffee (“Chaffee”)
4.Norman A. Fogelsong (“Fogelsong”)
5.Stephen J. Harrick (“Harrick”)
6.J. Sanford Miller (“Miller”)
7.Dennis B. Phelps (“Phelps”)
8.Jules A. Maltz (“Maltz”)

 

(b)Address of Principal Business Office: c/o Institutional Venture Partners
   3000 Sand Hill Road, Building 2, Suite 250
   Menlo Park, California 94025

 

(c)Citizenship:

 

  IVP XIV Delaware
  IVM XIV Delaware
  Chaffee United States of America
  Fogelsong United States of America
  Harrick United States of America
  Miller United States of America
  Phelps United States of America
  Maltz United States of America

 

(d)Title of Class of Securities: Common Stock

 

(e)CUSIP Number: 68376D 10 4

 

Item 3If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

 

Not applicable.

 

10 

 

 

Item 4Ownership.

 

The following information with respect to the ownership of the Common Stock by the Reporting Persons filing this statement on Schedule 13G is provided as of December 31, 2023:

 

Reporting Persons  Shares Held
Directly (1)
   Shared
Voting
Power (1)
   Shared
Dispositive
Power (1)
   Beneficial
Ownership (1)
   Percentage of
Class (1, 3)
 
IVP XIV   2,921,267    2,921,267    2,921,267    2,921,267    8.5%
IVM XIV (2)   0    2,921,267    2,921,267    2,921,267    8.5%
Chaffee (2)   0    2,921,267    2,921,267    2,921,267    8.5%
Fogelsong (2)   0    2,921,267    2,921,267    2,921,267    8.5%
Harrick (2)   0    2,921,267    2,921,267    2,921,267    8.5%
Miller (2)   0    2,921,267    2,921,267    2,921,267    8.5%
Phelps (2)   0    2,921,267    2,921,267    2,921,267    8.5%
Maltz (2)   0    2,921,267    2,921,267    2,921,267    8.5%

 

(1)Represents shares of Common Stock held directly by IVP XIV.
(2)IVM XIV serves as the sole general partner of IVP XIV and has sole voting and investment control over the shares owned by IVP XIV and may be deemed to own beneficially the shares held by IVP XIV. IVM XIV owns no securities of the Issuer directly. Chaffee, Fogelsong, Harrick, Miller, Maltz and Phelps are Managing Directors of IVM XIV and share voting and dispositive power over the shares held by IVP XIV, and may be deemed to own beneficially the shares held by IVP XIV. The Managing Directors own no securities of the Issuer directly.
(3)The percentage is based on 34,230,172 shares of Common Stock reported to be outstanding as of November 2, 2023 in the Issuer’s Form 10-Q for the quarterly period ended September 30, 2023 as filed with the Securities and Exchange Commission on November 9, 2023.

 

Item 5Ownership of Five Percent or Less of a Class.

 

If this statement is being filed to report the fact that as of the date hereof, the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following: ¨

 

Item 6Ownership of More Than Five Percent on Behalf of Another Person.

 

Not applicable.

 

Item 7Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company.

 

Not applicable.

 

Item 8Identification and Classification of Members of the Group.

 

Not applicable.

 

Item 9Notice of Dissolution of Group.

 

Not applicable.

 

Item 10Certification.

 

Not applicable.

 

11 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in the attached statement on Schedule 13G is true, complete and correct.

 

Dated: February 13, 2024

 

INSTITUTIONAL VENTURE PARTNERS XIV, L.P.  
   
By: Institutional Venture Management XIV, LLC  
Its: General Partner  
   
By:   /s/ Tracy Hogan  
    Tracy Hogan, Attorney-in-Fact  
   
INSTITUTIONAL VENTURE MANAGEMENT XIV, LLC  
   
By:   /s/ Tracy Hogan  
    Tracy Hogan, Attorney-in-Fact  
   
    /s/ Tracy Hogan  
Tracy Hogan, Attorney-in-Fact for Todd C. Chaffee  
   
    /s/ Tracy Hogan  
Tracy Hogan, Attorney-in-Fact for Norman A. Fogelsong  
   
    /s/ Tracy Hogan  
Tracy Hogan, Attorney-in-Fact for Stephen J. Harrick  
   
    /s/ Tracy Hogan  
Tracy Hogan, Attorney-in-Fact for J. Sanford Miller  
   
    /s/ Tracy Hogan  
Tracy Hogan, Attorney-in-Fact for Dennis B. Phelps  
   
    /s/ Tracy Hogan  
Tracy Hogan, Attorney-in-Fact for Jules A. Maltz  

 

Exhibit(s):

 

A:Joint Filing Statement

 

12